Belarus submits plan on structural economшс reforms to IMF

The plan of joint actions of the government and the National Bank on structural reforming of the Belarusian economy was adopted on October 10.

According to Alyaksandr Zabarouski, the first Deputy Head of the Council of Ministers of Belarus, head of PM's secretariat, the essence of the measures prescribed by the document is that "internal demand should strictly correspond with the resource capabilities of our economy."

"Within a short time period, we will grant flexibility and predictability of the macroeconomic policy, realize concrete solutions in the spheres of budget, credit policy, economic policy and privatization," Zabarouski noted.

He underlined that they would grant "moderate severity of the monetary-credit policy". "There will be no extra roubles that would press on the currency market. By the end of the year, according to our calculations, the surplus of credits to the economy will not surpass Br 9 trillion. This is approximately 1% of the growth of credits to the economy per month," BelaPAN quotes Zabarouski.

As for the plans for 2014, state programs won't be financed for the cost of the emission provided by the National Bank, but through the bank of Development.

The International Monetary Fund and representatives of the EurAsEs Anti-Crisis Foundation recommended that Belarus should limit the scopes of credits to the state programs in order to decrease the inflation level.

In the opinion of the Belarusian experts, the joint plan on structural reforming of the economy may be a tactical step in order to get more loans.